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sabreW4K3@lazysoci.al to Automotive IndustryEnglish · 2 years ago

GM had $6 billion to spend on EVs, chose stock buybacks

electrek.co

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GM had $6 billion to spend on EVs, chose stock buybacks

electrek.co

sabreW4K3@lazysoci.al to Automotive IndustryEnglish · 2 years ago
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  • cross-posted to:
  • evs@lemmy.world
  • electricvehicles@slrpnk.net
GM had $6 billion to spend on next-gen EVs, chose stock buybacks | opinion
electrek.co
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Despite delays and mounting competition from Ford, Stellantis, and the Chinese, the GM board decided to NOT invest $6 billion in new product.
  • OpticalMoose
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    2 years ago

    deleted by creator

    • BearOfaTime@lemm.ee
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      2 years ago

      Of course not.

      Just like Cash for Clunkers only lined the pockets of auto manufacturers.

      You can’t make more of something and somehow reduce energy and materials consumption.

    • TachyonTele@lemm.ee
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      2 years ago

      Was it supposed to? The government isn’t a company.

      • nehal3m@sh.itjust.works
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        2 years ago

        Exactly so they shouldn’t have bailed anyone out in the first place.

      • PunnyName@lemmy.world
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        2 years ago

        Um. Always has been [a business].

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